> ## Documentation Index
> Fetch the complete documentation index at: https://mintlify.com/drift-labs/protocol-v2/llms.txt
> Use this file to discover all available pages before exploring further.

# Perpetual Markets

> Access perpetual market accounts and data in Drift Protocol v2

Perpetual markets allow users to trade with leverage without an expiry date. Each perp market has its own account containing market configuration, AMM state, and funding rate data.

## Get Perp Market Account

Retrieve a perpetual market account by its market index:

```typescript theme={null}
const marketIndex = 0; // SOL-PERP
const perpMarket = driftClient.getPerpMarketAccount(marketIndex);
```

### Force Fetch from RPC

Force a fetch from RPC before returning the account (useful for testing):

```typescript theme={null}
const perpMarket = await driftClient.forceGetPerpMarketAccount(marketIndex);
```

## Get All Perp Markets

Retrieve all perpetual market accounts:

```typescript theme={null}
const allPerpMarkets = driftClient.getPerpMarketAccounts();
```

## PerpMarketAccount Structure

The `PerpMarketAccount` type contains all data for a perpetual market.

<ResponseField name="marketIndex" type="number" required>
  The unique identifier for this perp market
</ResponseField>

<ResponseField name="pubkey" type="PublicKey" required>
  The on-chain address of this market account
</ResponseField>

<ResponseField name="status" type="MarketStatus" required>
  Current status of the market (e.g., active, paused, settlement, delisted)
</ResponseField>

<ResponseField name="contractType" type="ContractType" required>
  Type of contract: perpetual, future, or prediction
</ResponseField>

<ResponseField name="contractTier" type="ContractTier" required>
  Risk tier classification: A, B, C, speculative, highly speculative, or isolated
</ResponseField>

<ResponseField name="name" type="number[]" required>
  Market name as byte array (use `decodeName()` to convert to string)
</ResponseField>

<ResponseField name="amm" type="AMM" required>
  Automated Market Maker state containing reserves, oracle info, and funding data

  <Expandable title="AMM fields">
    <ResponseField name="baseAssetReserve" type="BN">
      Base asset reserve in AMM
    </ResponseField>

    <ResponseField name="quoteAssetReserve" type="BN">
      Quote asset reserve in AMM
    </ResponseField>

    <ResponseField name="sqrtK" type="BN">
      Square root of k (constant product invariant)
    </ResponseField>

    <ResponseField name="oracle" type="PublicKey">
      Oracle account providing price data
    </ResponseField>

    <ResponseField name="oracleSource" type="OracleSource">
      Oracle source type (Pyth, Switchboard, etc.)
    </ResponseField>

    <ResponseField name="cumulativeFundingRateLong" type="BN">
      Cumulative funding rate for long positions
    </ResponseField>

    <ResponseField name="cumulativeFundingRateShort" type="BN">
      Cumulative funding rate for short positions
    </ResponseField>

    <ResponseField name="lastFundingRate" type="BN">
      Most recent funding rate
    </ResponseField>

    <ResponseField name="lastFundingRateTs" type="BN">
      Timestamp of last funding rate update
    </ResponseField>

    <ResponseField name="baseAssetAmountWithAmm" type="BN">
      Net base asset amount with AMM
    </ResponseField>

    <ResponseField name="baseAssetAmountLong" type="BN">
      Total long base asset amount
    </ResponseField>

    <ResponseField name="baseAssetAmountShort" type="BN">
      Total short base asset amount
    </ResponseField>
  </Expandable>
</ResponseField>

<ResponseField name="marginRatioInitial" type="number" required>
  Initial margin ratio required to open positions (in margin precision 10000)
</ResponseField>

<ResponseField name="marginRatioMaintenance" type="number" required>
  Maintenance margin ratio to avoid liquidation (in margin precision 10000)
</ResponseField>

<ResponseField name="imfFactor" type="number" required>
  Initial margin fraction factor for size-based margin increases
</ResponseField>

<ResponseField name="unrealizedPnlImfFactor" type="number" required>
  IMF factor applied to unrealized PnL for margin calculations
</ResponseField>

<ResponseField name="unrealizedPnlInitialAssetWeight" type="number" required>
  Asset weight applied to positive unrealized PnL for initial margin
</ResponseField>

<ResponseField name="unrealizedPnlMaintenanceAssetWeight" type="number" required>
  Asset weight applied to positive unrealized PnL for maintenance margin
</ResponseField>

<ResponseField name="numberOfUsersWithBase" type="number" required>
  Count of users with open positions in this market
</ResponseField>

<ResponseField name="numberOfUsers" type="number" required>
  Total count of users interacting with this market
</ResponseField>

<ResponseField name="pnlPool" type="PoolBalance" required>
  PnL pool used to settle positive user PnL
</ResponseField>

<ResponseField name="liquidatorFee" type="number" required>
  Fee paid to liquidators (in percentage precision)
</ResponseField>

<ResponseField name="ifLiquidationFee" type="number" required>
  Fee paid to insurance fund during liquidations
</ResponseField>

<ResponseField name="expiryTs" type="BN" required>
  Expiry timestamp for future contracts (0 for perpetuals)
</ResponseField>

<ResponseField name="expiryPrice" type="BN" required>
  Settlement price for expired futures
</ResponseField>

## Calculate Market Prices

Calculate bid and ask prices for a perp market:

```typescript theme={null}
import { calculateBidPrice, calculateAskPrice } from '@drift-labs/sdk';

const oraclePriceData = driftClient.getOraclePriceDataAndSlot(
  perpMarket.amm.oracle,
  perpMarket.amm.oracleSource
);

const bidPrice = calculateBidPrice(perpMarket, oraclePriceData.data);
const askPrice = calculateAskPrice(perpMarket, oraclePriceData.data);

console.log('Bid:', bidPrice.toString());
console.log('Ask:', askPrice.toString());
```

## Calculate Market Margin

Calculate margin requirements for a given position size:

```typescript theme={null}
import { calculateMarketMarginRatio, BASE_PRECISION } from '@drift-labs/sdk';

const size = BASE_PRECISION; // 1 base unit
const marginCategory = 'Initial'; // or 'Maintenance'

const marginRatio = calculateMarketMarginRatio(
  perpMarket,
  size,
  marginCategory
);

console.log('Margin ratio:', marginRatio);
```

## Related Types

* [Oracle Price Data](/api/markets/oracles)
* [User Positions](/api/user/positions)